FORWARD AIR CORP — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD AIR CORP (FWRD)
CIK: 0000912728
Period of Report: 2017-05-01

Reporting Person: JEWELL MATTHEW J (President - Logistics Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-01	Common Stock	M	8230	$28.61	Acquired	44043.6874	Direct
2017-05-01	Common Stock	S	8230	$52.5108	Disposed	35813.6874	Direct
2017-05-02	Common Stock	M	3992	$28.61	Acquired	39805.6874	Direct
2017-05-02	Common Stock	S	3992	$52.5146	Disposed	35813.6874	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-01	Stock Option (Right to Buy)	$28.61	M	8230	Disposed	2018-02-11	Common Stock (8230.0)	Direct
2017-05-02	Stock Option (Right to Buy)	$28.61	M	3992	Disposed	2018-02-11	Common Stock (3992.0)	Direct

Footnotes

F1: This option vests 33 1/3% each year over a three year period commencing on 2/11/12.